Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-50 - CLIMATE CHANGE  

Division 421 - Hydrogen production tax incentive  

Subdivision 421-A - Tax offset for hydrogen produced in Australia  

SECTION 421-10   Amount of hydrogen production tax offset  

421-10(1)    
If a company is entitled to the * hydrogen production tax offset for an income year in respect of one or more kilograms of hydrogen, the amount of the offset for the income year is $ 2 in respect of each whole kilogram of hydrogen.

421-10(2)    
However, if:

(a) * HPTO community benefit rules under paragraph 421-45(1)(b) apply to the company for the income year; and

(b) circumstances specified in those rules exist for the company;

then the amount of the * hydrogen production tax offset is reduced by the proportion specified in those rules for those circumstances.